What about the Economy?
Can I sell my business in this economy?
Timing is everything, so they say.
I'm not sure exactly who 'THEY' are, but I don't believe "timing' is absolutely "everything".
Can you sell your business in this economy? Of Course! For prices that were fetched 5 years ago? Well, that depends.
Here's a list of questions to ask yourself if the question arises:
1. Was my business affected by the economy? If so, in what manner?
2. What do my last 3 years of revenue look like? Is there a major decline, or maybe just minor?
3. How about my bottom line....is there one?
4. What hard assets do I possess and what is their market value?
5. How diverse is my customer base? What would happen to my business if I lost my best customer?
6. Do I have any long term contracts that could sustain a transition to a new owner?
7. Would my customers stop buying if I wasn't the owner anymore?
8. How niche is my product or service? Can someone open up next door and be as good as me?
9. Can I wait to sell, or do I need to sell now? Can I afford to hold a note to get a fair price?
10. Do I have a lease and/or landlord? What are the terms of my lease? Can my business be moved or is it location specific? Can my lease be assigned to a new buyer/tenant?
These are all great questions to help you determine whether or not now is the time to sell out or continue on. The only question remaining is: What are your answers?
Upcoming Finance Workshop
Keystone BS&A will be offering a new workshop on financing and accounting strategies to help small and medium-sized companies streamline their business practices for a maximum sale price. The workshop is open to anyone, but seating is limited so please RSVP as soon as possible.
Keystone BS&A Welcomes You to Its New Website!
Keystone BS&A is online with a new website. The consulting firm hopes prospective clients will explore the full range of services online, and invites them to contact Keystone BS&A directly via the site.